This real estate Mogul and world largest Cinema operator is the Chairman and CEO of Dalian Wanda Group. In 1988 he borrowed $80 thousand dollars to start his business, by Sept 2016 he is worth $40 billion dollars according to Bloomberg.
He keeps a low profile, rarely takes interviews and discusses business Here’s a dig into his empire
Business eggs in many baskets: real estate. Sports. Entertainment & tourism
His real estate company Dalian Wanda group has 71 five star luxury hotels across the world and over 100 large Wanda plaza across china.
But he did not just stop in real estate, he went into sports and entertainment. He bought a 20% stake in Spanish football club Atletico Madrid, he has built themed parks to rival Wal- Disney in china , has 150 movie theaters in china and 380 across US, china, Japan and other countries.
He fights business deals like a solider
From 1970 to 1986 Wang served in the Chinese Army enduring freezing-cold marches and physical hardship.
He credits this time for his unwavering perseverance: “Without those years of experience, I probably wouldn’t have had so much anti-stress capability and so firm a determination.” no innovation, no dream can be achieved without perseverance.”
He challenges giant competitors with Gusto
When Disney opened a resort in Shanghai, Wang famously said “A tiger has no chance of beating a pack of wolves,” and he promised to make them unprofitable for the next 20years.
He opened a 3.2billion dollars on a theme park with hotels, Water Park, movie theatre and residential flats across a 1.6 sq. km area. The company eventually hopes to have 15 such parks across China by 2020, pushing Disney to the sidelines in the race to capture the growing domestic tourist market.
Outside China, he announced his company, Wanda, would build a hotel in London to rival the Ritz hotel. Wanda Group is currently building One Nine Elms, a luxury riverside hotel in London that will rise 60 stories and boast views of the London Eye and Westminster Abbey. Upon completion, anticipated to be in 2018, One Nine Elms will become one of the tallest residential skyscrapers in London and the UK
He thinks global not local:
“If you are only big in china, you are just a local Chinese company”… Wang Jialing.
With billion dollar investments in properties in Sydney, London, Chicago and Los Angeles. He’s on his way to becoming the world’s biggest owner of five-star hotels. Wang also bought the US’s struggling AMC Entertainment franchise for $2.6 billion in 2012.
He trust no one: relies on process not people
Due to the “weak” nature of the human character, Wanda relies on systems, not on loyalty. “Wanda’s corporate management is based on strict rules. First confidence in no one.
He runs the company with military rigor. “In our company if I make a decision and you do not carry it out immediately, you need to pay a fine. The basic principle is I command and my employees carry it out immediately,” he said.
Nepotism is disallowed in the group. I act in strict accordance with the rule and never have any relatives working with the company.
Wang instills a sense of “nothing is impossible” in his employees and implements a clear system of rewards and penalties.
Wanda organizes its management vertically, taking over key departments in charge of cost, finance, quality and safety systems.
At the heart of his hussle was a passion point: true love for his country
According to him “Chinese culture led the world for 2,000 years,” Wang said at the opening of a Wanda theme park in central China in late May. “But, for the last 300 years, we’ve lacked confidence in our own ability and have fawned over foreign culture.”
He bought Atletico Madrid as a starting point to making football relevant within the country. He also supports the local teams with thousands of dollars.
He remarked in a recent interview: “If Wanda can control more than 20 per cent of the world’s three most important film markets – the United States, Europe and China – then it will have an empire with great voice in the industry.”
And hey, he enjoys the money too
His only 25-year-old son Sicong studied at Winchester College. He was one of the first businessmen in china to own a private jet. Wang owns two gulf-stream 550 private jets (each powered by two rolls Royce engines) that transport him to and from Wanda group headquarters in Beijing, china.
In recent years, the billionaire has become a passionate art collector. He purchased Picasso’s ‘Claude and Paloma’ for $28 million in 2013. In May, he won a $20.4 million bid for a Claude Monet painting.